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Household Debt Down, Margin Debt Up

The great deleveraging cycle that began after the 2008-09 credit crisis is in full swing.U.S. households cut their debt burdens by 1% during the first quarter, according to the Federal Reserve Bank of New York . Household debt declined to $11.2 trillion compared with a peak of $12.7 trillion during the third quarter of 2008. Current debt levels are back to 2006 thresholds.  The amount of mortgage debt (NYSEARCA:MBB) decreased to $7.93 trillion from $8.03 trillion and credit card balances also fell by $19 billion to $660 billion.However, total student debt increased to $986 billion from $966 billion.Not covered in the Fed's assessment of credit is margin debt, or the amount of borrowed money that investors are using to buy securities.In March 2013, NYSE margin debt rose to $379.5 billion, which is just shy of a mid-2007 peak near $381 billion.With major stock benchmarks like the Dow Industrials (NYSEARCA:DIA) and S&P 500 (NYSEARCA:SPY) hitting all-time highs, the fever to buy stocks - e...

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  1. U.S. Household Debt Dips 1% in First Quarter

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